OSB Daily Technical Analysis for September 26, 2014

S&P 500 DEC 14 S&P sold off and sliced through the 20 and 50 DMA’s to close at 1961. Support below at 1950. Knee jerk reaction needs to be watched vigilantly. A close below support extends down to 1925.

Dow 30 Break down of Dec 14 Dow found support on the 50 DMA at 16870. Sharp sell-off indicates nervousness in the market. Further support below at 16825 and 16800. Key points to watch. Bullish bias but cautious.

NASDAQ 100 NASDAQ 100 sold off and found strong support at 4000 level just above the 50 DMA. Support level likely to be retested. Further support below at 3965. Bullish.

FTSE100 FTSE 100 broke below the 200 DMA intraday only to get back above and close at 6615. Starting to look bearish with selling pressure increasing. Market need to get back above 50 DMA to hold within recent range. Bearishness building up.

NIKKEI 225 Nikkei got close to new 52 week highs on Thursday only to reverse and close lower for the day. Support at 1600 level and resistance above at 1644.Bullish.

 

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